USD/CHF retraces its recent losses registered on Monday, trading around 0.9130 during the European session on Tuesday. The US Dollar (USD) appreciates, possibly due to hawkish remarks from US Federal Reserve (Fed) officials, indicating no immediate need for rate cuts. This has underpinned the USD/CHF pair.
According to a report by The Economic Times on Monday, Fed Chair Jerome Powell said that it may take "longer than expected" to gain confidence that inflation is progressing toward the central bank's 2% target. Powell also emphasized that the central bank can maintain high rates "as long as needed." Additionally, Fed Governor Michelle Bowman expressed concerns about "upside risks" to inflation. Meanwhile, Minneapolis Fed President Neel Kashkari floated the possibility of no rate cuts occurring this year.
On the Swiss side, the KOF Leading Indicator, which reflects GDP growth and economic trends in Switzerland, increased to 101.8 in April from a downwardly revised 100.4 in March, slightly below forecasts of 102.1. Although the figure suggests stabilization above the long-term average, indicating robust development in the Swiss economy, there is no strong upward momentum anticipated soon.
According to a report from Bloomberg, Swiss National Bank (SNB) Chairman Thomas J. Jordan said last Friday that the central bank is dedicated to closely monitoring inflation. Jordan emphasized that the SNB is prepared to lower interest rates further if needed. While highlighting the SNB's achievements in addressing inflation, he also warned of ongoing high uncertainty and the potential for unexpected shocks.
Overview | |
---|---|
Today last price | 0.9126 |
Today Daily Change | 0.0022 |
Today Daily Change % | 0.24 |
Today daily open | 0.9104 |
Trends | |
---|---|
Daily SMA20 | 0.9097 |
Daily SMA50 | 0.896 |
Daily SMA100 | 0.8794 |
Daily SMA200 | 0.8849 |
Levels | |
---|---|
Previous Daily High | 0.9154 |
Previous Daily Low | 0.9088 |
Previous Weekly High | 0.9157 |
Previous Weekly Low | 0.9087 |
Previous Monthly High | 0.9072 |
Previous Monthly Low | 0.873 |
Daily Fibonacci 38.2% | 0.9113 |
Daily Fibonacci 61.8% | 0.9129 |
Daily Pivot Point S1 | 0.9077 |
Daily Pivot Point S2 | 0.905 |
Daily Pivot Point S3 | 0.9012 |
Daily Pivot Point R1 | 0.9143 |
Daily Pivot Point R2 | 0.9181 |
Daily Pivot Point R3 | 0.9208 |
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